The numbers: Consumer confidence rose in September to the highest level since the coronavirus pandemic began after the number of cases declined and the economic forged ahead, a closely followed survey showed.
The index of consumer confidence rose to 101.8 this month from 86.3 in August, the Conference Board said Tuesday. It was the biggest one-month increase in 17 years.
Economists polled by MarketWatch had forecast a smaller increase in the index to 89.6. The level of confidence in August was also revised slightly higher after initially showing the lowest reading since the pandemic began more than six months ago.
“A more favorable view of current business and labor market conditions, coupled with renewed optimism about the short-term outlook, helped spur this month’s rebound in confidence,” said Lynn Franco, senior director of economic indicators at the board.
See:MarketWatch Coronavirus Recovery Tracker
What happened: An index that gauges how consumers